Cormark Has Bullish Forecast for Orla Mining FY2024 Earnings

Orla Mining Ltd. (TSE:OLA) – Research analysts at Cormark increased their FY2024 earnings estimates for shares of Orla Mining in a research note issued to investors on Friday, January 17th. Cormark analyst R. Gray now expects that the company will earn $0.37 per share for the year, up from their previous forecast of $0.35. The consensus estimate for Orla Mining’s current full-year earnings is $0.34 per share. Cormark also issued estimates for Orla Mining’s Q4 2024 earnings at $0.12 EPS.

Orla Mining (TSE:OLA) last released its earnings results on Tuesday, November 12th. The company reported C$0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.13 by C($0.05). Orla Mining had a negative return on equity of 2.50% and a negative net margin of 4.12%. During the same period last year, the firm posted $0.03 EPS.

A number of other brokerages have also recently commented on OLA. Desjardins upgraded Orla Mining to a “moderate buy” rating in a report on Thursday, October 31st. CIBC lifted their target price on Orla Mining from C$8.50 to C$9.25 in a report on Tuesday, December 17th. Stifel Nicolaus increased their target price on Orla Mining from C$8.00 to C$9.75 in a research note on Monday, December 2nd. Finally, Scotiabank raised their price target on shares of Orla Mining from C$7.75 to C$8.75 in a report on Wednesday, January 15th.

Orla Mining Trading Up 1.8 %

Shares of OLA stock opened at C$8.55 on Monday. The stock has a market cap of C$2.73 billion, a P/E ratio of -171.00 and a beta of 1.57. Orla Mining has a fifty-two week low of C$4.30 and a fifty-two week high of C$8.67. The business has a fifty day simple moving average of C$7.43 and a 200-day simple moving average of C$6.33. The company has a quick ratio of 1.22, a current ratio of 5.89 and a debt-to-equity ratio of 17.76.

About Orla Mining

Orla Mining Ltd is a mineral exploration company. It is engaged in the acquisition and exploration of mineral properties. The company holds two gold projects; the Camino Rojo gold and silver project in Zacatecas State, Mexico, and the Cerro Quema gold project in Panama. It conducts business activities in the geographic areas of Mexico, Panama, the United States, and Canada.